How much is climate resilience truly worth?

The Institution of Civil Engineers (ICE) has announced a new policy programme to explore how the UK can better quantify the economic value of climate resilience investments. The initiative follows concerns that current spending on adapting infrastructure to extreme weather is insufficient, leaving critical systems vulnerable. ICE’s 2023 report highlighted that resilience lacks a clear market value, making it harder to justify funding compared to net-zero projects with more predictable returns. The programme will examine the costs and benefits of adaptation, as well as the risks of inaction, to strengthen the case for government investment. While the UK government has signaled stronger climate resilience efforts, ICE argues that strategic plans must be quickly translated into action, including embedding adaptation into the 2027 Spending Review. Political consensus on climate action has weakened, adding urgency to the need for clear economic arguments. Uncertainty in climate projections complicates risk assessments for infrastructure, deterring investors and making it difficult to justify preventive spending. ICE notes that adaptation is often overshadowed by discussions of climate damage costs, despite its potential benefits, such as improving livability and economic attractiveness. The programme aims to reduce this uncertainty by providing accessible, data-driven insights to inform public and political debates. By clarifying the trade-offs and benefits of resilience investments, ICE hopes to rebuild support for urgent action. The initiative will focus on translating complex economic analyses into understandable terms for broader engagement, ensuring that climate adaptation becomes a priority in national spending decisions.